$BTC Price has been trading inside this range for roughly three weeks now.

During that time, BTC has swept the pmH, while the pmL has so far remained untouched.

Although price has just reclaimed the range low after briefly deviating below it and taking out a decent amount of long liquidity, I still wouldn’t lean too bullish here.

If we compare the current price action to the corresponding 2022 fractal, we can see that after the explosive breakout from the bottoming range, price formed another range and traded inside it for exactly 18 days before selling off into a key support level.

This was then followed by another rally where price pumped roughly 20% from the lows.

If BTC follows a similar pattern this time around, that would suggest we could still see another move below the range lows before the continuation to the upside begins.